Sector developments and company hires

Walker steps up to global credit head
Aon has established a new global credit team structure within its Reinsurance Solutions unit, appointing Ben Walker as head of global credit. The global credit team now combines Reinsurance Solutions’ existing mortgage, trade credit, structured credit and political risk and surety businesses to form one global function.

The aim is to facilitate access to a broader group of collaborative Aon experts across all credit reinsurance classes to help clients build resilience and reduce volatility across their businesses. Aon’s Reinsurance Solutions unit has more than 50 credit, mortgage and surety specialists globally, who transact approximately US$3bn of reinsurance premium annually.

Other leaders of the firm’s global credit reinsurance team include: Nick Ayres, who becomes chairman of global credit, while continuing as chairman of credit and financial risks UK; Doug Espenson, who becomes head of US mortgage; Rupert Evans, who becomes head of trade credit, structured credit and political risk, and international surety, and continues as head of credit and financial risks UK; and Andreas Koutris, who becomes head of international mortgage.

In other news…

Deposit account options offered
Computershare Corporate Trust has introduced a suite of deposit account options that it hopes will redefine the traditional, single depository institution model. The business drew upon its parent company Computershare’s global network of highly-rated financial institutions to develop deposit account options that meet the credit rating and liquidity conditions of governing agreement requirements, including those of trusts.

Many products in the suite offer interest-bearing deposit account options, with different return rates for structured finance and conventional debt, as well as trust and agency clients. The range offers customisable investment models, each of which have been designed to provide market-based flexibility. A traditional single bank depository product is also available.

The company partners with investment-grade financial institutions that are highly rated by Fitch, Moody’s or S&P to administer the deposits and investment activities of trust and agency clients.

EMEA
Alantra has established new investment banking headquarters, with the opening of an office in London, where the firm will bring together an important part of its international businesses with its UK team. The office will accommodate more than 180 professionals, of which 150 are investment bankers covering M&A, debt, credit portfolio advisory, structured finance and ABS. Miguel Hernández, ceo of investment banking, and Andy Currie, co-chairman of investment banking, will both be based in the new London premises, as well as the co-ceos of FIG advisory, Andrew Jenke and Nick Colman.

Guy Carpenter has strengthened its cyber team with a series of appointments and promotions. Among the new hires is Zain Awan, who has been named international cyber ILS lead, with responsibility for further strengthening the firm’s analytical and transactional capabilities to support the growth of the sector. He will also partner with GC Securities to structure and deliver cyber insurance-linked securities transactions. He was most recently svp, reinsurance broker & actuary, in Guy Carpenter’s London cyber team.

Morgan Stanley welcomes former head of EMEA credit financing solutions and CLOs at Credit Suisse to its structured finance practice in London. Arun Cronin joins the firm after 13 years at Credit Suisse to serve as head of EMEA corporate asset finance - bringing almost 20 years of expertise to the role across fund finance, CLOs, private lending and credit structuring to the role.

Jonathan McCormick is set to join Scotiabank (Ireland) later this month as director, securitised product sales, based in Dublin. He was formerly an md and structured finance coverage specialist at Deutsche Bank, which he joined in September 2003.